Real Estate
June Colorado Association of Realtors Numbers
This week, we have the latest real estate numbers for La Plata County for the month of June. The attached charts show a detailed breakdown of several market segments in La Plata County, showing La Plata County as a whole, Durango In-Town, Durango Rural, Bayfield In-Town, Bayfield Rural, Ignacio In-Town, Ignacio Rural, and Durango Mountain Area. These charts indicate the statistics and key metrics for single family homes and...
June La Plata County Real Estate Transactions
This week we have the latest residential real estate transactions for the month of June. With 105 total transactions, we are slightly below the total number of May transactions for this year. This number is also a bit behind the total number of transactions we have seen in recent previous years during the month of June. Year to date, we are at 501 total transactions. Last year at this time there were 528 total transactions. While we...
Should You Work With A Real Estate Agent?
One of the questions many people ask is whether they should bypass working with a real estate agent when they sell their home. There are several key reasons to utilize a real estate broker, and it helps to understand the roles and responsibilities of a broker in the process. When a client chooses to work with a real estate broker, s/he enters into a contractual agreement with the broker. According to the Colorado Association of...
Homeownership and The American Dream
As we close the month of June, we would be remiss not to focus on real estate and its impact on our country. June is National Homeownership Month. According to the White House, “During National Homeownership Month, we acknowledge the benefits of sustainable homeownership. Homeownership continues to be an important option for many Americans to invest in their communities, build wealth, and achieve the American Dream”...
Durango market compared to other Colorado mountain towns…
Stats released at the Durango Area Association of Realtors quarterly meeting last week indicate the BIG winter of 2018-19 had an impact on mountain communities real estate markets. Unless homeowners absolutely had to buy or sell, they were preoccupied keeping up with the snow or enjoying the snow, not listing their home and house-hunting. In La Plata County, we are expecting a strong summer this year after the 416Fire last summer put...
The Impact of the Mortgage Rate
If you’re in the market to buy a home, are you aware of the impact of mortgage interest rates and their role in a home purchase? They have a large impact on the value of home you’re able to afford. In the last several years, we’ve seen historically low mortgage rates. While they have fluctuated, they still hover near all-time lows. Recently, we saw a steady increase as the Fed’s interest rates increased, and experts projected that...
WATTS UP: Lightning Season & Safety
Nothing more than lightning plays havoc with the power grid. LPEA explains about the safety measures they take to avoid power outages and to protect workers, users.
May La Plata County CAR Numbers
This week, we have the latest real estate numbers for La Plata County for the month of May. The attached charts show a detailed breakdown of several market segments in La Plata County, showing La Plata County as a whole, Durango In-Town, Durango Rural, Bayfield In-Town, Bayfield Rural, Ignacio In-Town, Ignacio Rural, and Durango Mountain Area. These charts indicate the statistics and key metrics for single family homes and...
May La Plata County Residential Real Estate Numbers
This week we have the latest La Plata County residential real estate transactions for the month of May. With 111 total sales, it was an increase from the month of April, and the highest total number of sales in 2019. It was slightly lower than the number of transactions from the last couple of years in May, although comparable to several of the previous years. Year to date, we are at 396 total sales. Last year at this time the total...
Senior Property Tax Exemption
It’s the time of the year many are considering property taxes. One of the nuances of the state of Colorado is the senior property tax exemption, which is available for senior citizens and the surviving spouses of senior citizens. If you qualify, 50 percent of the first $200,000 in actual value of your primary residential property is exempted. This is a great benefit and one that can help senior citizens. Below are the basic...
How Are Property Taxes Determined?
It’s the time of year many of our clients inquire about property taxes and how they are figured. While this seems like a complicated formula, it’s fairly simple once you understand a few of the basics. In the state of Colorado, we have what is called the Gallagher Amendment, which basically divides the state’s total property taxes between residential and commercial properties. It states that 45% of the property taxes must be collected...
La Plata County CAR Numbers
This week, we have the latest real estate numbers for La Plata County for the month of April. The attached charts show a detailed breakdown of several market segments in La Plata County, showing La Plata County as a whole, Durango In-Town, Durango Rural, Bayfield In-Town, Bayfield Rural, Ignacio In-Town, Ignacio Rural, and Durango Mountain Area. These charts indicate the statistics and key metrics for single family homes and...
La Plata County April Numbers
We have the latest La Plata County residential real estate transactions this week. With 93 total sales, it was a strong month. There were more sales than April of last year, as well as the highest number of sales so far in 2019! Year to date, we are at 285 total sales, compared to 296 total sales through this time last year—slightly lower, but not a drastic difference. The median sales price is $371,200. The 2018 median sales price...
Newer homes and furniture burn faster
Newer homes and furniture burn faster, giving you less time to escape a fire. Research shows that 30 years ago, you had about 17 minutes to escape a house fire. Today it’s down to less than 3 minutes (mobile homes only 90 seconds). The reason: newer homes and the furniture inside them actually burn faster. A lot faster! We think advancements have been made in fire-retardant materials, but in fact our “disposable” lifestyle of...
Real Estate in the News
For our communication this week, we want to share a few of the recent headlines in national real estate news to give our clients a pulse on the national market. Mortgage Rates Rose Again Last Week: Mortgage rates have had an interesting year. Last week they rose again for the fourth straight week; however, they remain lower than this time a year ago. For the week ending April 25, “30-year fixed-rate mortgages: averaged 4.20 percent,...
Consider a 1031 Exchange to invest in real estate
The term 1031 Exchange is defined under section 1031 of the IRS Code. This strategy allows an investor to “defer” paying capital gains taxes on an investment property when it is sold, as long another “like-kind property” is purchased with the profit gained by the sale of the first property and the funds are temporarily held by a Qualified Exchange Intermediary . To receive the full benefit of a 1031 exchange, your replacement property...
Tips to Go Green at Home
This past Monday, the world celebrated Earth Day, which is the perfect time to consider some green living tips for our homes. According to the latest REALTORS & Sustainability report, 69% of real estate professionals say promoting energy efficiency in listings is “very” or “somewhat valuable” in a home sale (https://magazine.realtor/daily-news/2019/04/22/6-ways-to-go-green-this-earth-day). While there is a large variety of actions...
NAR 2019 Profile of Home Staging Highlights
The National Association of Realtors recently released its 2019 Profile of Home Staging. It contains interesting statistics and generalities for home buyers and sellers, and represents results from over 2,000 REALTORS. We wanted to share a few of the results, as they are great reminders on the benefits of home staging. 40% of buyers’ agents noted that home stating had an effect on most buyers’ view of the home. 52% noted it has an...
March La Plata County CAR Numbers
This week, we have the latest real estate numbers for La Plata County for the month of March. The attached charts show a detailed breakdown of several market segments in La Plata County, showing La Plata County as a whole, Durango In-Town, Durango Rural, Bayfield In-Town, Bayfield Rural, Ignacio In-Town, Ignacio Rural, and Durango Mountain Area. These charts indicate the statistics and key metrics for single family homes and...
Picking Your Real Estate Location In Ever-Changing Durango
The population in Durango continues to grow at over one percent above the national average, and real estate is feeling the pressure. Infrastructure problems have hit the north east, according to The Journal, and work is continuing apace to develop the region. Those looking to get involved in real estate, either as an investor or home buyer, should conduct close research; between non-profit developments and new green investments,...
Featured Real Estate
Jim Wotkyns – Real Estate Blog
- Durango market compared to other Colorado mountain towns… June 24, 2019
- Big adventure in Durango – the ANIMAS RIVER is running high June 12, 2019
- PROPERTY TAX EXEMPTION for Senior Citizens and Disabled Veterans June 11, 2019
- Durango’s newest restaurants May 28, 2019
- D&SNG Railroad is rolling from Durango to Silverton! May 10, 2019